YTD
Investor Presentation Q3 2016
www.savola.com
Contents
1. Group Highlights 2. Foods Highlights 3. Retail Highlights 4. Appendix
Savola 2
Group Consolidated Financial Snapshot
Revenue
Gross Profit
EBIT
Net Profit
SAR Mn
Q3 Sep 2016
YTD Sep 2016
5,847
1,157
311
173
+4.3% vs LY
-6.6% vs LY
-37.0% vs LY
-53.3% vs LY
18,760
3,670
1,011
513
-0.6% vs YTD
-2.2% vs YTD
-28.2% vs YTD
-59.8% vs YTD
3
Group Consolidated Financial Highlights SAR Mn
Growth -0.6%
YoY Sales
-2.1%
-3.2%
Margin
+4.3%
6,224
6,023
7,036
6,890
5,604
5,847
Q1’15
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
18,864
18,760
YTD Sep’15
YTD Sep’16
YoY Gross Profit
-2.2%
-4.7% -6.6%
+5.5%
3,751
3,670
1,353
1,290
1,239
1,157
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
YTD Sep’15
YTD Sep’16
20.3%
19.2%
18.7%
22.1%
19.8%
19.9%
19.6%
1,159
1,223
Q1’15 18.6%
4
Group Consolidated Financial Highlights SAR Mn
Growth
-28.2%
YoY EBIT
-23.7%
-37.0%
1,407
-23.0%
1,011
543
371
285
Q1’15
Q1’16
6.0%
4.7%
414
494
Q2’15
Q2’16
7.7%
6.0%
Q3’15 Q3’15 8.8%
311 Q3’16 Q3’16 5.3%
YTD Sep’15
YTD Sep’16
7.5%
5.4%
YoY Net Profit
-80.3%
434 Q1’16 1.5%
1,276
-53.3%
247
372
Q2’15
Q2’16
Q3’15
Q3’16
6.2%
3.6%
6.6%
3.0%
93 Q1’15 7.6%
-59.8%
-43.2%
471
Margin
513
173 YTD Sep’15
YTD Sep’16
6.8%
2.7% 5
Group Consolidated Revenue Mix by Business SAR Mn
Revenue YTD Sep'15
47%
Foods
Revenue YTD Sep'16
53%
Retail
46%
54%
Foods
Retail
6
Capital Expenditure by Segment SAR Mn
-26.5% 1,345
347
989
Savola Foods YoY +35.0% Panda YoY -43.7% Head Office YoY -80.7%
468 888
500
110
YTD Sep 2015
21
YTD Sep 2016 7
513
YTD Sep 2016 normalized NI
Panda inventory adjustments
91 7
Panda Egypt losses
134 24 36
Pandati store closures cost
USD sourcing SFC
20
SFC FX impact
Loss from associate
YTD Sep 2016 reported NI
265
YTD Sep 2015 normalized NI
SFC FX impact
Capital gain on sale of Packaging
YTD Sep 2015 reported NI
Group Consolidated Normalized Net Income Waterfall SAR Mn
1,276 -25.4%
1,107
96 826
9
Contents
1. Group Highlights
2. Foods Highlights 3. Retail Highlights 4. Appendix
Savola 10
Savola Foods Financial Snapshot
Revenue
Gross Profit
EBIT
Net Profit
SAR Mn
Q3
2,717
416
183
85
+6.4% vs LY
+1.6% vs LY
-6.9% vs LY
-23.8% vs LY
YTD
8,640
1,321
613
276
Sep 2016
-4.1% vs YTD
-4.8% vs YTD
-12.0% vs YTD
-33.6% vs YTD
Sep 2016
11
Savola Foods Financial Highlights SAR Mn
Growth -4.1%
YoY Sales
-7.9%
-8.6%
Margin
9,010
8,640
YTD Sep’15
YTD Sep’16
+6.4%
3,087
2,820
Q1’15
Q1’16
3,369
3,103
Q2’15
Q2’16
2,554
2,717
Q3’15
Q3’16
-4.8%
YoY Gross Profit -6.1%
-9.3%
+1.6%
540
439
399
Q1’15
Q1’16
Q2’15
14.2%
14.1%
16.0%
507
1,389
1,321
409
416
Q2’16
Q3’15
Q3’16
YTD Sep’15
YTD Sep’16
16.3%
16.0%
15.3%
15.4%
15.3% 12
Savola Foods Financial Highlights SAR Mn
Growth
YoY EBITDA
-9.3%
-8.3%
-14.3%
-5.2%
342
314
Q1’16
Q2’15
8.4%
10.2%
275
236
Q1’15 8.9%
255
241
Q2’16
Q3’15
10.1%
10.0%
Q3’16 Q3’16 8.9%
872
791
YTD Sep’15
YTD Sep’16
9.7%
9.2%
YoY Net Profit
-33.6%
-35.7%
-23.8%
417
-40.7%
210
95
56
Q1’15
Q1’16
3.1%
2.0%
Margin
276 135
112
85
Q2’15
Q2’16
Q3’15
Q3’16
YTD Sep’15
YTD Sep’16
6.2%
4.4%
4.4%
3.1%
4.6%
3.2% 13
Savola Foods Revenue Breakdown by Category SAR Mn
-4.1% 9,010 8,640
6,499
5,844
2,106
2,367
405
429
YTD Sep’15
YTD Sep’16
Oil Sugar Pasta
14
Savola Foods Volume Breakdown by Category 000 Tonnes
+1.2% 2,482
1,238
1,057
2,511
Oil Sugar Pasta
1,114
1,177
187
220
YTD Sep’15
YTD Sep’16 15
Savola Foods Revenue Breakdown by Geography SAR Mn
-4.1%
9,010 2% 5% 4% 8%
8,640 3% 3% 4% 7%
23%
22%
19%
19%
38%
42%
YTD Sep’15
YTD Sep’16
Morocco YoY +10% Sudan YoY -49% Algeria YoY -2% Turkey YoY -8% Iran YoY -10% Egypt YoY -5% KSA YoY +6%
16
Savola Foods Volume Breakdown by Geography 000 Tonnes
+1.2%
2,482 2% 2% 3% 5%
2,511 2% 2% 4% 4%
15%
14%
22%
22%
51%
52%
YTD Sep’15
YTD Sep’16
Morocco YoY +11% Sudan YoY -4% Algeria YoY +15% Turkey YoY -7% Iran YoY -5% Egypt YoY +2% KSA YoY +2%
17
Contents
1. Group Highlights 2. Foods Highlights
3. Retail Highlights 4. Appendix
Savola 18
Panda Financial Highlights
Revenue
Gross Profit
Net Income
Store Openings / (closures)
SAR m
Q3
3,175
742
-131
4
Sep 2016
+2.7% vs. LY
-10.6% vs. LY
NA vs. LY
O4 Super C (41) Pandati
10,320
2,349
-233
+2.5% vs. YTD
-0.6% vs. YTD
NA vs. YTD
YTD Sep 2016
16 O 3 C (0) Hyper O 12 C (2) Super O 1 C (101) Pandati
19
Panda Financial Highlights SAR Mn
Growth
YoY Sales
2.5%
+2.4%
+2.5%
+2.7%
3,192
3,271
3,782
3,874
3,092
3,175
Q1’15
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
10,066
10,320
YTD Sep’15
YTD Sep’16
-0.6%
YoY Gross Profit +14.5%
Margin
-3.8%
-10.6%
720
824
813
782
830
742
Q1’15
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
22.6%
25.2%
21.5%
20.2%
26.8%
23.4%
2,364
2,349
YTD Sep’15
YTD Sep’16
23.5%
22.8% 20
Panda Financial Highlights SAR Mn
Growth
Margin
YoY EBITDA -62.4%
-66.6% +1.7% 110
425
112
162
153
160 51
-3
Q1’15
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
3.5%
3.4%
4.0%
1.3%
5.3%
-0.1%
YTD Sep’15 4.2%
YTD Sep’16 1.5%
YoY NI 118
18
48 -21
51
-80
-131
Q1’15
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
0.6%
-0.6 %
1.3%
-2.1%
1.6%
-4.1%
-233
YTD Sep’15
YTD Sep’16
1.2%
-2.3% 21
Number of Stores by Quarter Includes 1 Super in Egypt
152
Includes 1 Hyper in UAE
Super 4
4
4
2
Hyper
162 64
0
3
0
0
67
Includes 1 store opening in Egypt
2015
Q1’16
Q2’16
Q3’16 Closures YTD’16
2015 Selling Area 747,544 m2
Pandati
498
282
1
Q1’16
Selling Area 755,986 m2
Total 5
7
4
103
411
0
101
2015
Q1’16 Q2’16 Q3’16 ClosuresYTD’16
Q2’16
182
Q3’16 Closures YTD’16
2015
Q1’16 Q2’16 Q3’16 ClosuresYTD’16 22
Contents
1. Group Highlights 2. Foods Highlights 3. Retail Highlights
4. Appendix
Savola 23
Quarterly Financials – YTD 2016 (all figures are in SAR millions) Segment Wise Financials YTD- 2016 Revenue Savola Foods Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
EBIT
YTD- 2015 Net Income
EBITDA
Revenue
Gross Profit
5,029 815 5,844
975 103 1,078
514 35 549
326 20 346
582 45 626
5,463 1,036 6,498
1,029 164 1,193
Sugar
2,367
146
12
(104)
98
2,106
Pasta
429
98
53
34
67
8,640
1,321
613
276
10,068 252 10,320
2,301 48 2,349
(173) (2) (175)
0 0 0 0
16 78 583 (104)
Total Foods Panda KSA Overseas Total Retail Real Estate Herfy Al Marai HQ/Elimination/Impairments Total
0 0 0 (200) 18,760
3,670
1,011
EBIT
Net Income
EBITDA
597 78 675
415 55 470
661 91 752
108
(24)
(86)
59
405
88
45
33
61
791
9,010
1,389
697
417
872
(229) (4) (233)
158 2 160
9,837 229 10,066
2,328 35 2,364
156 2 159
115 2 118
420 5 425
16 78 583 (208)
16 78 583 (79)
16 77 523 (63)
16 77 523 127
16 77 523 (312)
513
Adjustments Impairments Capital gains
-
Adjusted Profit
513
1,549
0 0 0 (212) 18,864
0 0 0 (1) 3,751
1,407
1,276
1,599
(265) 1,011
* Start-up markets include Algeria, Morocco and Sudan
Savola 24
Quarterly Financials – Q3 2016
Savola 25
Thank you
www.savola.com
26
www.savola.com
Contents
1. Group Highlights 2. Foods Highlights 3. Retail Highlights 4. Appendix
Savola 2
Group Consolidated Financial Snapshot
Revenue
Gross Profit
EBIT
Net Profit
SAR Mn
Q3 Sep 2016
YTD Sep 2016
5,847
1,157
311
173
+4.3% vs LY
-6.6% vs LY
-37.0% vs LY
-53.3% vs LY
18,760
3,670
1,011
513
-0.6% vs YTD
-2.2% vs YTD
-28.2% vs YTD
-59.8% vs YTD
3
Group Consolidated Financial Highlights SAR Mn
Growth -0.6%
YoY Sales
-2.1%
-3.2%
Margin
+4.3%
6,224
6,023
7,036
6,890
5,604
5,847
Q1’15
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
18,864
18,760
YTD Sep’15
YTD Sep’16
YoY Gross Profit
-2.2%
-4.7% -6.6%
+5.5%
3,751
3,670
1,353
1,290
1,239
1,157
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
YTD Sep’15
YTD Sep’16
20.3%
19.2%
18.7%
22.1%
19.8%
19.9%
19.6%
1,159
1,223
Q1’15 18.6%
4
Group Consolidated Financial Highlights SAR Mn
Growth
-28.2%
YoY EBIT
-23.7%
-37.0%
1,407
-23.0%
1,011
543
371
285
Q1’15
Q1’16
6.0%
4.7%
414
494
Q2’15
Q2’16
7.7%
6.0%
Q3’15 Q3’15 8.8%
311 Q3’16 Q3’16 5.3%
YTD Sep’15
YTD Sep’16
7.5%
5.4%
YoY Net Profit
-80.3%
434 Q1’16 1.5%
1,276
-53.3%
247
372
Q2’15
Q2’16
Q3’15
Q3’16
6.2%
3.6%
6.6%
3.0%
93 Q1’15 7.6%
-59.8%
-43.2%
471
Margin
513
173 YTD Sep’15
YTD Sep’16
6.8%
2.7% 5
Group Consolidated Revenue Mix by Business SAR Mn
Revenue YTD Sep'15
47%
Foods
Revenue YTD Sep'16
53%
Retail
46%
54%
Foods
Retail
6
Capital Expenditure by Segment SAR Mn
-26.5% 1,345
347
989
Savola Foods YoY +35.0% Panda YoY -43.7% Head Office YoY -80.7%
468 888
500
110
YTD Sep 2015
21
YTD Sep 2016 7
513
YTD Sep 2016 normalized NI
Panda inventory adjustments
91 7
Panda Egypt losses
134 24 36
Pandati store closures cost
USD sourcing SFC
20
SFC FX impact
Loss from associate
YTD Sep 2016 reported NI
265
YTD Sep 2015 normalized NI
SFC FX impact
Capital gain on sale of Packaging
YTD Sep 2015 reported NI
Group Consolidated Normalized Net Income Waterfall SAR Mn
1,276 -25.4%
1,107
96 826
9
Contents
1. Group Highlights
2. Foods Highlights 3. Retail Highlights 4. Appendix
Savola 10
Savola Foods Financial Snapshot
Revenue
Gross Profit
EBIT
Net Profit
SAR Mn
Q3
2,717
416
183
85
+6.4% vs LY
+1.6% vs LY
-6.9% vs LY
-23.8% vs LY
YTD
8,640
1,321
613
276
Sep 2016
-4.1% vs YTD
-4.8% vs YTD
-12.0% vs YTD
-33.6% vs YTD
Sep 2016
11
Savola Foods Financial Highlights SAR Mn
Growth -4.1%
YoY Sales
-7.9%
-8.6%
Margin
9,010
8,640
YTD Sep’15
YTD Sep’16
+6.4%
3,087
2,820
Q1’15
Q1’16
3,369
3,103
Q2’15
Q2’16
2,554
2,717
Q3’15
Q3’16
-4.8%
YoY Gross Profit -6.1%
-9.3%
+1.6%
540
439
399
Q1’15
Q1’16
Q2’15
14.2%
14.1%
16.0%
507
1,389
1,321
409
416
Q2’16
Q3’15
Q3’16
YTD Sep’15
YTD Sep’16
16.3%
16.0%
15.3%
15.4%
15.3% 12
Savola Foods Financial Highlights SAR Mn
Growth
YoY EBITDA
-9.3%
-8.3%
-14.3%
-5.2%
342
314
Q1’16
Q2’15
8.4%
10.2%
275
236
Q1’15 8.9%
255
241
Q2’16
Q3’15
10.1%
10.0%
Q3’16 Q3’16 8.9%
872
791
YTD Sep’15
YTD Sep’16
9.7%
9.2%
YoY Net Profit
-33.6%
-35.7%
-23.8%
417
-40.7%
210
95
56
Q1’15
Q1’16
3.1%
2.0%
Margin
276 135
112
85
Q2’15
Q2’16
Q3’15
Q3’16
YTD Sep’15
YTD Sep’16
6.2%
4.4%
4.4%
3.1%
4.6%
3.2% 13
Savola Foods Revenue Breakdown by Category SAR Mn
-4.1% 9,010 8,640
6,499
5,844
2,106
2,367
405
429
YTD Sep’15
YTD Sep’16
Oil Sugar Pasta
14
Savola Foods Volume Breakdown by Category 000 Tonnes
+1.2% 2,482
1,238
1,057
2,511
Oil Sugar Pasta
1,114
1,177
187
220
YTD Sep’15
YTD Sep’16 15
Savola Foods Revenue Breakdown by Geography SAR Mn
-4.1%
9,010 2% 5% 4% 8%
8,640 3% 3% 4% 7%
23%
22%
19%
19%
38%
42%
YTD Sep’15
YTD Sep’16
Morocco YoY +10% Sudan YoY -49% Algeria YoY -2% Turkey YoY -8% Iran YoY -10% Egypt YoY -5% KSA YoY +6%
16
Savola Foods Volume Breakdown by Geography 000 Tonnes
+1.2%
2,482 2% 2% 3% 5%
2,511 2% 2% 4% 4%
15%
14%
22%
22%
51%
52%
YTD Sep’15
YTD Sep’16
Morocco YoY +11% Sudan YoY -4% Algeria YoY +15% Turkey YoY -7% Iran YoY -5% Egypt YoY +2% KSA YoY +2%
17
Contents
1. Group Highlights 2. Foods Highlights
3. Retail Highlights 4. Appendix
Savola 18
Panda Financial Highlights
Revenue
Gross Profit
Net Income
Store Openings / (closures)
SAR m
Q3
3,175
742
-131
4
Sep 2016
+2.7% vs. LY
-10.6% vs. LY
NA vs. LY
O4 Super C (41) Pandati
10,320
2,349
-233
+2.5% vs. YTD
-0.6% vs. YTD
NA vs. YTD
YTD Sep 2016
16 O 3 C (0) Hyper O 12 C (2) Super O 1 C (101) Pandati
19
Panda Financial Highlights SAR Mn
Growth
YoY Sales
2.5%
+2.4%
+2.5%
+2.7%
3,192
3,271
3,782
3,874
3,092
3,175
Q1’15
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
10,066
10,320
YTD Sep’15
YTD Sep’16
-0.6%
YoY Gross Profit +14.5%
Margin
-3.8%
-10.6%
720
824
813
782
830
742
Q1’15
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
22.6%
25.2%
21.5%
20.2%
26.8%
23.4%
2,364
2,349
YTD Sep’15
YTD Sep’16
23.5%
22.8% 20
Panda Financial Highlights SAR Mn
Growth
Margin
YoY EBITDA -62.4%
-66.6% +1.7% 110
425
112
162
153
160 51
-3
Q1’15
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
3.5%
3.4%
4.0%
1.3%
5.3%
-0.1%
YTD Sep’15 4.2%
YTD Sep’16 1.5%
YoY NI 118
18
48 -21
51
-80
-131
Q1’15
Q1’16
Q2’15
Q2’16
Q3’15
Q3’16
0.6%
-0.6 %
1.3%
-2.1%
1.6%
-4.1%
-233
YTD Sep’15
YTD Sep’16
1.2%
-2.3% 21
Number of Stores by Quarter Includes 1 Super in Egypt
152
Includes 1 Hyper in UAE
Super 4
4
4
2
Hyper
162 64
0
3
0
0
67
Includes 1 store opening in Egypt
2015
Q1’16
Q2’16
Q3’16 Closures YTD’16
2015 Selling Area 747,544 m2
Pandati
498
282
1
Q1’16
Selling Area 755,986 m2
Total 5
7
4
103
411
0
101
2015
Q1’16 Q2’16 Q3’16 ClosuresYTD’16
Q2’16
182
Q3’16 Closures YTD’16
2015
Q1’16 Q2’16 Q3’16 ClosuresYTD’16 22
Contents
1. Group Highlights 2. Foods Highlights 3. Retail Highlights
4. Appendix
Savola 23
Quarterly Financials – YTD 2016 (all figures are in SAR millions) Segment Wise Financials YTD- 2016 Revenue Savola Foods Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
EBIT
YTD- 2015 Net Income
EBITDA
Revenue
Gross Profit
5,029 815 5,844
975 103 1,078
514 35 549
326 20 346
582 45 626
5,463 1,036 6,498
1,029 164 1,193
Sugar
2,367
146
12
(104)
98
2,106
Pasta
429
98
53
34
67
8,640
1,321
613
276
10,068 252 10,320
2,301 48 2,349
(173) (2) (175)
0 0 0 0
16 78 583 (104)
Total Foods Panda KSA Overseas Total Retail Real Estate Herfy Al Marai HQ/Elimination/Impairments Total
0 0 0 (200) 18,760
3,670
1,011
EBIT
Net Income
EBITDA
597 78 675
415 55 470
661 91 752
108
(24)
(86)
59
405
88
45
33
61
791
9,010
1,389
697
417
872
(229) (4) (233)
158 2 160
9,837 229 10,066
2,328 35 2,364
156 2 159
115 2 118
420 5 425
16 78 583 (208)
16 78 583 (79)
16 77 523 (63)
16 77 523 127
16 77 523 (312)
513
Adjustments Impairments Capital gains
-
Adjusted Profit
513
1,549
0 0 0 (212) 18,864
0 0 0 (1) 3,751
1,407
1,276
1,599
(265) 1,011
* Start-up markets include Algeria, Morocco and Sudan
Savola 24
Quarterly Financials – Q3 2016
Savola 25
Thank you
www.savola.com
26
